For me the biggest issue is that the recent horrible events that no doubt lead to this statement, and those like them are not "gun" issues but "social" issues.

That is exactly right. School shootings and other random mass shootings are a social issue. That is why the President focused his speech on such things as making it more difficult for the guns to get into criminal hands, working with local LE to get better enforcement of existing laws and supporting youth programs in an attempt to decrease the likelihood that young people will resort to gun violence in the first place. Those were the details that provided context for the statement about AKs not belonging on the streets. The statement about AKs can be twisted any way you want if the context is ignored.

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I believe the president felt he had to say SOMETHING, lest he lose all credibility with his base. I can imagine tremendous pressure on him if he remained silent on the matter.

This is also a good point. If he remained silent on the recent events in Aurora, would we be happy with that silence? Probably not. Had he not addressed the issue, there would be just as many, if not more, people upset with him because he would seem uncaring, which is certainly not what he wants in an election year.

I really don't think this speech implies that the President is going after any bans or outlandish control measures that would infringe on 2nd ammendment rights. We are so ready to assume that he wants to push gun control at all costs that any statement regarding guns is likely to evoke a visceral reaction, even when the statement doesn't really warrant it. His political opponents are likely to try to twist it that way, but that is standard politics, and both sides are guilty as charged when it comes to mudslinging.

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Some people are like Slinkies - not really good for anything, but you still can't help but smile when you see one tumble down the stairs.

A gun should be a tool in the hands of a deadly weapon, not a deadly weapon in the hands of a tool.